Common use of Damages Net of Insurance Clause in Contracts

Damages Net of Insurance. The failure of any Purchaser indemnified party to seek available insurance coverage or insurance proceeds for any Damages otherwise reimbursable by Section 6.9 shall not adversely affect such Purchaser indemnified party's rights to indemnification in respect thereof under Section 6.9. If, however, the Purchaser indemnified party receives insurance proceeds in respect of any such Damages, the amount of such insurance proceeds less any associated costs, including reasonable attorney fees, incurred in obtaining such proceeds, shall be excluded in determining the amount of Damages subject to an indemnification claim.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Forbes Medi-Tech Inc.), Asset Purchase Agreement (Forbes Medi-Tech Inc.)

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Damages Net of Insurance. The failure of any Purchaser indemnified party to seek available insurance coverage or insurance proceeds for any Damages otherwise reimbursable by Section 6.9 7.8 shall not adversely affect such Purchaser indemnified party's ’s rights to indemnification in respect thereof under Section 6.97.8. If, however, the Purchaser indemnified party receives insurance proceeds in respect of any such Damages, the amount of such insurance proceeds less any associated costs, including reasonable attorney fees, incurred in obtaining such proceeds, shall be excluded in determining the amount of Damages subject to an indemnification claim.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Hi Tech Pharmacal Co Inc), Asset Purchase Agreement (Hi Tech Pharmacal Co Inc)

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Damages Net of Insurance. The failure of any Purchaser indemnified party to seek available insurance coverage or insurance proceeds for any Damages otherwise reimbursable by Section 6.9 shall not adversely affect such Purchaser indemnified party's ’s rights to indemnification in respect thereof under Section 6.9. If, however, the Purchaser indemnified party receives insurance proceeds in respect of any such Damages, the amount of such insurance proceeds less any associated costs, including reasonable attorney fees, incurred in obtaining such proceeds, shall be excluded in determining the amount of Damages subject to an indemnification claim.

Appears in 1 contract

Samples: Asset Purchase Agreement (Fmi Holdings Ltd.)

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